Price for Iron Oxides and Hydroxides in the Philippines - 2023
Contents:
- Price for Iron Oxides and Hydroxides in the Philippines (CIF) - 2022
- Price for Iron Oxides and Hydroxides in the Philippines (FOB) - 2022
- Imports of Iron Oxides and Hydroxides in the Philippines
- Exports of Iron Oxides and Hydroxides in the Philippines
Price for Iron Oxides and Hydroxides in the Philippines (CIF) - 2022
The average iron oxides and hydroxides import price stood at $1,788 per ton in 2022, surging by 44% against the previous year. Over the period under review, import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, iron oxides and hydroxides import price increased by +55.4% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($9,020 per ton), while the price for India ($468 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+17.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Iron Oxides and Hydroxides in the Philippines (FOB) - 2022
In 2022, the average iron oxides and hydroxides export price amounted to $2,514 per ton, increasing by 19% against the previous year. Over the period under review, the export price, however, showed a dramatic shrinkage. The pace of growth was the most pronounced in 2019 when the average export price increased by 75% against the previous year. The export price peaked at $63,960 per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for Japan.
From 2013 to 2022, the rate of growth in terms of prices for Japan amounted to +15.8% per year.
Imports of Iron Oxides and Hydroxides in the Philippines
In 2022, approx. 4.3K tons of iron oxides and hydroxideses were imported into the Philippines; with a decrease of -34% on 2021 figures. Overall, imports showed a mild reduction. The most prominent rate of growth was recorded in 2021 with an increase of 69%. As a result, imports attained the peak of 6.5K tons, and then fell markedly in the following year.
In value terms, iron oxides and hydroxides imports shrank modestly to $7.7M in 2022. In general, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +10.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +73.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 82%. As a result, imports attained the peak of $8M, and then declined modestly in the following year.
| Import of Iron Oxides and Hydroxides in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 3.9 | 3.1 | 5.9 | 4.6 | 5.7% |
| Japan | N/A | 0.1 | 0.6 | 1.9 | 335.9% |
| India | 0.4 | 0.5 | 0.8 | 0.5 | 7.7% |
| Germany | 0.3 | 0.3 | 0.3 | 0.3 | 0.0% |
| Spain | 0.1 | 0.1 | 0.1 | 0.1 | 0.0% |
| Indonesia | 0.1 | N/A | N/A | N/A | 0% |
| Others | 0.8 | 0.5 | 0.4 | 0.3 | -27.9% |
| Total | 5.6 | 4.4 | 8.0 | 7.7 | 11.2% |
Top Suppliers of Iron Oxides and Hydroxides to the Philippines in 2022:
- China (2695.3 tons)
- India (1002.9 tons)
- Japan (212.8 tons)
- Spain (128.3 tons)
- Germany (104.7 tons)
Exports of Iron Oxides and Hydroxides in the Philippines
In 2022, the amount of iron oxides and hydroxideses exported from the Philippines dropped markedly to 8.4 tons, declining by -18.2% on 2021. Overall, total exports indicated a tangible increase from 2019 to 2022: its volume increased at an average annual rate of +2.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +32.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 63%. As a result, the exports attained the peak of 10 tons, and then fell sharply in the following year.
In value terms, iron oxides and hydroxides exports reduced to $21K in 2022. Over the period under review, exports saw a precipitous descent. The pace of growth appeared the most rapid in 2021 when exports increased by 4.9%.
| Export of Iron Oxides and Hydroxides in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | N/A | N/A | 20.9 | 20.0 | -4.3% |
| Thailand | 30.7 | 3.9 | N/A | N/A | -87.3% |
| Vietnam | N/A | 4.8 | N/A | N/A | 0% |
| Qatar | 23.8 | 10.7 | N/A | N/A | -55.0% |
| Others | N/A | 1.5 | 0.9 | 1.2 | -10.6% |
| Total | 54.5 | 20.8 | 21.8 | 21.2 | -27.0% |
Top Export Markets for Iron Oxides and Hydroxides from the Philippines in 2022:
- Japan (8.4 tons)
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